He is also the founder and chief executive officer of SpaceX, and leads brain-chip startup Neuralink and infrastructure firm the Boring Company. Musk has previously made early-stage investments in companies, including online payment processor Stripe Inc and artificial intelligence firm Vicarious. "If it gets other companies interested (in acquiring Twitter), it'll probably be at a higher price than right now." "If (Musk) decides to take an active position and Twitter goes private, it will probably be at a higher price than it is now," he said. The stake in Twitter is more likely to result in positive outcomes for shareholders than negative ones, said Ryan Jacob, chief executive officer of Jacob Asset Management, who said Twitter is one of the fund's largest holdings. "Musk's actual investment is a very small percentage of his wealth and an all-out buyout should not be ruled out," CFRA Research analyst Angelo Zino wrote in a client note.
The stock, which had fallen 38% in the past 12 months through Friday's close, on Monday added as much as $8.38 billion to its market capitalization, which now stands at $39.3 billion. Twitter shares rose 27.1% on Monday to close at $49.97.
Vanguard is Twitter's second-biggest shareholder, with an 8.79% stake, according to Refinitiv data. He has already sold $16.4 billion worth of shares since then.Ī regulatory filing on Monday showed that Musk owns 73.5 million Twitter shares, which are held by the Elon Musk Revocable Trust, of which he is the sole trustee. Musk - who, according to Forbes, has a net worth of about $300 billion - has been reducing his stake in Tesla since November, when he said he would offload 10% of his holding in the electric-car maker.
Patrick Pleul/Pool via REUTERS Acquire Licensing Rights Elon Musk attends the opening ceremony of the new Tesla Gigafactory for electric cars in Gruenheide, Germany, March 22, 2022.
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